Supported Forms

The following Arkansas forms are supported in Drake Tax 2024. Forms denoted with can be e-signed.

Form	Description	IND	CRP	SCRP	PTR	FID
	Annual Corporation Franchise Tax Report		t	t
	Annual LLC Franchise Tax Report	t	t	t	t
AR EST PMT	Estimated Tax Payment Bank Authorization for Direct Debit	t	t	t	t	t
AR EXT PMT	Extension Payment Bank Authorization for Direct Debit	t	t	t		t
AR K-1	Owner’s Share of Income, Deductions, Credits, etc.			t	t
AR K-1FE	Owner’s Share of Income, Deductions, Credits, etc.					t
AR LLC	Annual LLC Franchise Tax Report	t	t	t	t
AR POA	Power of Attorney	t	t	t	t	t
AR TAX PMT	Income Tax Payment Bank Authorization for Direct Debit	t	t	t	t	t
AR1000ADJ	Schedule of Adjustments	t
AR1000CE	Teacher’s Qualified Classroom Investment Expense	t
AR1000-CO	Check-Off Contributions	t
AR1000CR	Income Tax Composite Tax Return			t	t	t
AR1000CRES	Composite Estimated Tax Payment			t	t	t
AR1000CRV	Composite Income Tax Return Payment Voucher			t	t	t
AR1000D	Capital Gains	t
AR1000DC	Certificate for Individuals with Disabilities	t
AR1000EC	Early Childhood Certification	t
AR1000ES	Estimated Tax for Individuals (Declaration)	t
AR1000F	Individual Income Tax Return Full-Year Resident	t
AR1000MS	Miscellaneous Statement	t
AR1000NOL	Individual Income Tax Schedule of Net Operating Loss	t
AR1000NR	Individual Income Tax Return Nonresident and Part-Year Resident	t
AR1000-OD	Organ Donor Deduction	t
AR1000RC5	Certificate for Individuals with Developmental Disabilities	t
AR1000TC	Tax Credits	t
AR1000TD	Lump-Sum Distribution Averaging	t
AR1000V	Individual Income Tax Return Payment Voucher	t
AR1002ES	Fiduciary Estimated Tax Payment					t
AR1002F	Fiduciary Income Tax Return					t
AR1002NR	Fiduciary Nonresident Income Tax Return					t
AR1002-TC	Tax Credits					t
AR1002V	Fiduciary Tax Return Payment Voucher					t
AR1050	Partnership Income Tax Return				t
AR1055-CR	Request for Extension of Time for Filing Composite Tax Returns			t	t	t
AR1055-FE	Request for Extension of Time for Filing Fiduciary Tax Returns					t
AR1055-IT	Request for Extension of Time for Filing Individual Tax Returns	t
AR1055-PE	Request for Extension of Time for Filing Partnership Tax Returns				t
AR1075	Deduction for Tuition Paid to Post-Secondary Educational Institutions	t
AR1099PT	Report of Income Tax Withheld or Paid on Behalf of Nonresident Member			t	t	t
AR1100BIC	Schedule of Business Incentive Tax Credits		t	t	t
AR1100-CO	Schedule of Check-Off Contributions		t
AR1100CT	Corporation Income Tax Return		t
AR1100CTV	Corporation Income Tax Return Payment Voucher		t	t
AR1100ESCT	Estimated/Extension Corporation Income Tax Payment		t	t
AR1100ESPET	Pass-Through Estimated Tax Payment			t	t
AR1100NOL	Schedule of Net Operating Loss		t	t	t
AR1100PET	Pass-Through Entity Tax Return			t	t
AR1100PTV	Pass-Through Entity Tax Return Payment Voucher			t	t
AR1100REC	Corporation Income Tax Reconciliation Schedule		t	t	t
AR1100S	S Corporation Income Tax Return			t
AR1100-WH	Withholding Summary		t	t	t
AR1113	Phenylketonuria Disorder and Other Metabolic Disorders Credit	t
AR1155	Request for Extension of Time for Filing Income Tax Returns		t	t
AR1155-PET	Pass-Through Entity Tax Request for Arkansas Extension of Time for Filing Income Tax Returns			t	t
AR2106	Employee Business Expenses	t
AR2210	Penalty for Underpayment of Estimated Tax	t				t
AR2210A	Annualized Penalty for Underpayment of Estimated Income Tax	t				t
AR2220	Underpayment of Estimated Tax by Corporations		t
AR2220A	Annualized Income for Underpayment of Estimated Tax by Corporations		t
AR2220A-PET	Annualized Income for Underpayment of Estimated Tax by Pass-Through Entity Tax			t	t
AR2220-PET	Underpayment of Estimated Tax by Pass-Through Entity Tax			t	t
AR2441	Child and Dependent Care Expenses	t
AR3	Itemized Deductions	t
AR362	Pass-Through Entity Income Tax Election or Revocation Form			t	t
AR3903	Moving Expenses	t
AR4	Interest and Dividends	t
AR4562	Depreciation and Amortization	t	t	t	t	t
AR4684	Casualties and Thefts	t
AR4-FID	Interest and Dividends					t
AR4PT	Nonresident Member Withholding Exemption Affidavit			t	t	t
AR4PT-A	Transmittal of Nonresident Member Withholding Exemption Affidavit			t	t	t
AR8453	Individual Income Tax Declaration for Electronic Filing	t
AR8453-C	Corporation Income Tax Declaration for Electronic Filing		t
AR8453-CR	Composite Tax Return Declaration for Electronic Filing			t	t	t
AR8453-FE	Fiduciary Income Tax Declaration for Electronic Filing					t
AR8453-OL	Individual Income Tax Declaration for Electronic Filing	t
AR8453-PE	Partnership Return Declaration for Electronic Filing				t
AR8453-PET	Pass-Through Entity Tax Declaration for Electronic Filing			t	t
AR8453-S	S Corporation Income Tax Declaration for Electronic Filing			t
AR8944	Preparer e-File Hardship Request	t	t	t	t	t
AR-MS	Tax Exemption Certificate for Military Spouse	t
AR-OI	Other Income/Loss and Depreciation Differences	t
ARSEWS	Self-Employed Health Insurance Deduction Schedule	t
ARSLWS	Student Loan Interest Schedule	t

New Form

AR-718 - Arkansas Corporation Special Industry and Alternative Appointment (Corporation, S Corporation, and Partnership packages)

Modified Forms

• AR1000F, Individual Income Tax Return Full Year Resident – Lines have been renumbered

• AR1002F and AR1002NR, Arkansas Fiduciary (Nonresident) Income Tax Return – Updated standard deduction to $2,410

• AR1000RC5 has been changed to AR1000-DD

• AR1000TC, Tax Credits – Line "Inflationary relief" has been removed

• AR1075, Deduction for Tuition Paid to Post-Secondary Educational Institutions – Updated the following qualifying “50% of Weighted Average Tuition” amounts:

  • Two-year colleges – $2,523

  • Four-year colleges – $5,012

  • Technical institutes – $1,515

• AR1100CT, Arkansas Corporation Income Tax Return – The form layout has been modified and lines have been renumbered

• AR1100NOL, Net Operating Loss Schedule – The form layout and instructions have been modified

• AR1100REC, Corporation Income Tax or Pass-Through Entity Tax Reconciliation Schedule – Lines have been renumbered

• AR2210, Penalty for Underpayment of Estimated Tax – New lines have been added

Program Updates

The following screens have been added:

• 718 (AR-718 Special Industry Apportionment)

• AR1100NOL

Tax Law Changes

• Act 532 of 2023 (Amends Arkansas Code Annotated 26-51-205 (Corporations)) – The maximum corporation income tax rate has been reduced to 5.1% for all taxable income exceeding $25,000 for tax years beginning on or after January 1, 2023. The maximum income tax rate for corporations remains 5.9% for all taxable income exceeding $25,000 for tax years beginning on or after January 1, 2022, and beginning before January 1, 2023.

• Additional Tax Credit for Qualified Individuals (Act 1 of the Second Extraordinary Session of 2021) – Allows an additional tax credit for taxpayers who have a net income of up to $26,900 and files their tax return in a timely manner.

• Credit for Developmentally Disabled Dependents (Act 191 of the General Session of 2023) – Eliminated the requirement for re-certification of a developmental disability that is expected to continue indefinitely. If claiming this credit, use Form AR1000TC. Complete line 7, and enter the children’s information on the form (7A-7F – one child per line). If this is the first time using this credit, attach Forms AR1000-DD and AR1000TC to the return. If Form AR1000RC5 was valid on January 1, 2022, Form AR1000-DD is not required to be submitted. This credit is permanent and no longer requires a renewal every five years; however, Form AR1000TC must be submitted annually. The credit will follow the child (regardless of the caretaker) and can only be claimed on one tax return per year.

• Individual Income Tax Rate Reduction (Act 1 of the Second Extraordinary Session of 2024) Marginal Income Tax rates for 2024 have been amended, and the top rate will be reduced to 3.9%.

• Members of an entity that participates in Pass-Through Entity Tax should include all income from the PET return on the individual return. Use Form AR-OI to back out the income or losses reported on the Pass-Through level. Do not include the amount of tax paid on your behalf as withholding.

• Remote Work (Act 1019 of the General Session of 2021) – A nonresident AR taxpayer who is paid a salary, lump sum payment, or any other form of payment for work inside and outside of Arkansas is only taxed on the amount of income earned while the taxpayer was physically located in Arkansas. For remote workers who perform all duties from outside Arkansas, no income is taxed. If duties are performed both inside and outside of Arkansas, only the portion that reasonably can be allocated to work performed in Arkansas is taxable.